MON showing a strong recovery structure after reclaiming key moving averages and pushing back into a major resistance zone.
Price is now testing a key rejection area while momentum remains elevated. The reaction here matters more than the move itself.
Things standing out on the chart:
• Strong impulsive move off the lows with higher lows continuing to form
• Heavy volume activity below current price creating potential support
• Momentum pushing into overheated territory
• Price compressing near resistance, creating a decision zone
Bullish scenario:
Acceptance above resistance could lead to continuation into the next major resistance region.
Bearish scenario:
Failure to hold this structure could trigger a rotation back into lower support zones.
Right now this looks more like consolidation after expansion rather than a confirmed reversal. The next reaction at resistance will likely decide the next major move for MON.
Price is now testing a key rejection area while momentum remains elevated. The reaction here matters more than the move itself.
Things standing out on the chart:
• Strong impulsive move off the lows with higher lows continuing to form
• Heavy volume activity below current price creating potential support
• Momentum pushing into overheated territory
• Price compressing near resistance, creating a decision zone
Bullish scenario:
Acceptance above resistance could lead to continuation into the next major resistance region.
Bearish scenario:
Failure to hold this structure could trigger a rotation back into lower support zones.
Right now this looks more like consolidation after expansion rather than a confirmed reversal. The next reaction at resistance will likely decide the next major move for MON.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Check me out btdcrypto.com/links/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
